Management Services
RESIDENTIAL MANAGEMENT SERVICES
Adil Awan is pleased to be able to offer a complete set of residential property management services. Whether you are a property owner, investor, or absentee owner, Adil brings worry-free management of your property from just being a dream to being a reality!
THE CHOICE IS YOURS
We are aware that all property owners have different needs and requirements. That's why Adil Awan offers both Full Management Services or Placement Only Service. The choice of what service best meets your requirement is yours. We would be pleased to discuss your needs and how our services would best fit them.
Packages
PACKAGE A: FULL PROPERTY MANAGEMENT
A free estimate and evaluation of property rental range
Appropriate marketing/advertising: Online, web site, newspaper and Craigslist
Welcoming calls and providing property information to potential tenants
Arrange and conduct showings of the property
Accept, review and screening of prospective tenants including reference and credit checks
Collect security deposit when lease signed
Prepare lease agreements for the term which the owner requests
Prepare, sign and fax Form K's as required
Detailed move-in inspection
Handling all tenant concerns
Arrange maintenance and repairs in accordance with Owners approvals
Arrange and coordinate property contractual services as required
Arrange seasonal annual maintenance as required
Collect monthly rent by pre-authorized debit, cheque or cash on the owner's behalf and deposit to the owner's account on the 12th of each month
Entry and Exit Inspections as required by the BC Residential Tenancy Act
One visual inspection of rental residence annually or every 60 – 90 days as selected by Owner
Pay expenses on Owners behalf
Provide the owner with monthly financial statements
Provide Annual Income and Expense Operating Statement
Annual evaluations as required for insurance purposes
For non-resident owners we will agree to assist Owners with the non-resident taxes and will act as an Agent to provide NR6 and withholding undertakings and will assist with annual filing as required by Revenue Canada (extra charge applies - info available)
Prepare tenant notices and co-ordinate Residential Tenancy Office process including documentation and arbitration appearances
PACKAGE B: PLACEMENT PROPERTY MANAGEMENT
A free estimate and evaluation of property rental range
Appropriate marketing/advertising: Web Site, Online, Newspaper and Craigslist
Welcoming calls and providing property information to potential tenants
Arrange and conduct showings of the property
Accept, review and screening of prospective tenants including reference and credit checks
Accept post-dated cheques and security deposit on the owner's behalf
Prepare lease agreements for the term which the owner requests
Prepare, sign and fax Form K's as required
Turn the property and tenant details over to the owner with all the documents required for tenancy
Detailed move-in inspection as required by the BC Residential Tenancy Act can be added for a fee
*For more information on how Adil Awan can best meet your needs, request a FREE Rental Property Assessment today!
Why Adil Awan?
Our fully computerized Propertyware Management System, monitors, manages and maintains property management files. Tenant files are continuously updated. A contract maintenance department to supply general maintenance services, available seven days a week. We also provide professional trades under agreement for specialized services as and when required. We have accessible staff, our management and support staff live within the area. All key personnel are on cell phones, and are reachable by dialing one phone number. We are in continuous contact with relocation companies requiring rental properties. Adil Awan is fully licensed, insured, and bonded for property management and can cooperate fully with other property management companies.
Why is Adil Awan is your number one choice for property management?
Absolutely no up-front fees. With years of experience in property management, we can literally guarantee results! And to prove it, we don't ask for a penny in advance. All advertising, and other associated costs are included at no cost to you. In other words, if we don't rent your property, you owe us nothing!
Our business is 100% Property Management. Unlike the majority of our competitors, whose main business is property sales, we dedicate 100% of our resources to managing your rental property. We don't list or sell property, nor do we do commercial or strata property management. Residential Property Management is our expertise and our sole focus is on solving your vacancy problems. We are experts in absentee and out-of-province owner management. With clients as far away as Asia, Europe and Africa, we have established ourselves as the leader in providing management services to clients residing outside the province.
Customized services available to accommodate special needs. Not all clients' needs are alike. That's why we can provide customized services to fit your individual needs. Services like direct deposit of your monthly disbursement check, paying strata fees or property taxes and having an online owner portal. The services available are endless.
We're based in your neighbourhood. We are a local company using local tradespeople. You need someone who can keep an eye on your investment and use affordable trades people to maintain your property - no expensive call out fees.
Whatever your requirements are, Adil Awan is ready to meet your needs! Please don't hesitate to contact us today to get started, or for more information.
FREE Rental Property Assessment
Incorrectly assessing the value of your rental property is one of the biggest mistakes property owners can make. An incorrect assessment can mean alot of lost revenues or a vacant properties.
Fortunately, obtaining a professional property assessment from Adil Awan is easy! Simply fill out this form, and we will contact you to arrange a complimentary Rental Property Assessment. We respect your privacy and promise that any information you provide will be kept strictly confidential.
Advertising Your Rental Property
Understanding the basics of real estate investing is the key to a successful property investment. Before moving ahead with any real estate investment, it’s important to recognize that purchasing an investment property is different than purchasing your own home as there are many decisions that will determine long-term success and your ability to obtain the financial rewards.
Here are some tips to help you understand the fundamental basics of real estate property investment:
Define Your investment strategy - There are several possible investment strategies to help you determine how to get the best return from your investment and achieve your investment goals. It is important for you to define your property investment goals and decide if you want to increase the value of your property over time or if you want to generate a steady rental income and increased cash flow.
Determine what makes a good property investment - There are various forms of property investment such as apartments, condominiums, duplexes, bungalows, commercial properties and vacant land. Before purchasing an investment property identify some properties, research geographic areas and conduct a rental income return on investment analysis. Do your research and make sure you understand that different types of property investments carry different returns and risks.
Know the difference between flipping and investing - "Flipping" a property can produce a lump sum of money but it is considered a short-term strategy with higher risk. When you rehab and flip a house you need to purchase it below market value. It can be difficult to find the right property that is below value, which could involve plenty of time, work and money to manage. "Investing" means purchasing an income producing property for longer-term gain that can generate a cash flow regularly and consistently for you. The level of risk in holding a property over time is low in comparison to flipping a property.
Location and neighborhood - Location is the key to a successful real estate investment as the location of a property can drastically affect its market value. To locate the right neighborhood for investment make sure you do your research and become familiar with the area of where you intend to purchase the property. Choose an area that is close to public transportation, shops, schools, parks and beaches. Look for areas that are going through development, which can impact the value of your investment property and ensures that you are buying in an area that has rental appeal.
Know your financing options - One of the most important things to learn is your financing options when investing in a property. Be aware of your budget and how much money you can spend. You should make sure that your credit is in order and you can qualify for an investment property loan, especially if you do not want to tie up your own money.
Seek professional advice - While investment properties can help you build wealth, there are some potential downsides that a professional property management company such as HPPM can minimize for you. Among other helpful services, we can prepare a rental income return on investment, pre-qualify tenants, regularly inspect the property to ensure proper maintenance is being performed and field any tenant inquiries. Our skilled tradespeople will ensure that the integrity of your property is being retained.
Find The Right Tenant
One of the most important steps in renting your property is finding the right tenant. The right tenant will save you countless potential headaches, and can be the difference between loss and profitability!
Adil Awan provides comprehensive screening of all prospective tenants. This includes the use of pre-rental applications and reference checks, which include a credit check, as well as business and personal references, including references from former neighbors. A professional rental/lease agreement is also part of the package, and this agreement is fully reviewed with the tenants. We also review the tenant's insurance.
We have a two page questionnaire that must be completed. Often we visit a prospective tenant to observe the condition of their current residence. We have attended courses sponsored by the RCMP to aid us in screening potential tenants. After our investigation we consult with the owner before making any agreements with the tenants. Our comprehensive screening process includes:
Employment Verification
Credit checks with Credit Bureau
Past rental history
Personal references
After a prospective tenant has been screened and approved, we meet with the tenant for to turn over the property. This provides us with an opportunity to review any concerns unique to the property. We follow up and report to the owner the outcome of each showing.
Let us take the headache out of managing your rental property! Finding tenants is just one of the many things that we do to make your ownership experience as painless and as profitable as possible. Contact us to find out more!
Resources
If you are a rental property owner, real estate investor or interested in getting into the market, here are some useful websites that may be of interest to you.
Financial & Mortgage Information (www.pioneerwest.com)
Deposit info & Calculator (www.rto.gov.bc.ca/content/calculator/default.aspx)
Residential Tenancy Contact Information & Locations (www.rto.gov.bc.ca/content/contactUs/default.aspx)
School District Metro (www.makeafuture.ca/bc-school-districts/regions/metro/
Real Estate Council of BC (www.recbc.ca)
Transit Information (www.translink.ca)
BC Ferries (www.bcferries.com)
Greater Vancouver Regional Directory Online (www.gvrd.com)
Shopping Centers (www.gvrd.com/shopping)
Map Quest - Look up restaurants, shopping, activities etc. near your address (www.mapquest.ca)
